bloomberg.com Archives - 09 January 2013, Wednesday

CapitaLand Ltd. (CAPL) , the Southeast Asia developer that is reorganizing into four main units to help focus on its key markets, said it will look to exit some projects in the U.K., India and the Middle East , and reassess its investment in Australia ’s Australand Property Group. The...

Singapore home prices climbed to a record in the fourth quarter after developers sold more homes, a government report showed. The island state’s private residential property price index rose 1.8 percent to 211.90 points in the three months ended Dec. 31, according to preliminary estim...

You need to enable Javascript to play media on Bloomberg.com Play Singapore Grows and Averts Recession Singapore ’s economy expanded more than economists estimated last quarter, averting a recession even after the central bank refrained from monetary stimulus as it sought to contain e...

Singapore property stocks, the best performers on the benchmark Straits Times Index this year, are set to extend their gains in 2013 on higher demand for homes, offices and hotels, according to UOB-Kay Hian Pte. Six out of top 10 gainers on the 30-member gauge have been real estate-re...

The 23-year-old Indian victim of a gangrape, which triggered protests and violent clashes in New Delhi , is being treated in a downtown Singapore hospital. “The patient arrived at Mount Elizabeth Hospital ’s intensive care unit this morning at 9:05 a.m. in an extremely critical condit...

Singapore ’s industrial production rose for the first time in four months in November as manufacturers produced more pharmaceuticals, countering a slump in electronics. Manufacturing gained 3.1 percent from a year earlier after a revised 5.1 percent drop in October, the Economic Devel...

A former Singapore banker who allegedly helped Olympus Corp. (7733) engage in what U.S. prosecutors said was a $1.7 billion accounting fraud was arrested in California . Chan Ming Fon was arrested in Los Angeles yesterday and faces U.S. fraud charges in New York, Preet Bharara, U.S. A...

Singapore ’s exports unexpectedly fell for the third time in four months in November as shipments of electronics slumped and companies sold fewer goods to U.S. customers. Non-oil domestic exports fell 2.5 percent from a year earlier, after a 7.9 percent gain in October, the trade prom...

When Carson Block likened Olam International Ltd. (OLAM) to fraud-ridden Enron Corp., he challenged more than the accounting of the Singapore-based commodities firm. He also took on Temasek Holdings Pte, the government-owned investment company whose money has helped build the city-sta...

hotel is a far cry from the tranquil charm of Sana Gallery. Longer than two soccer fields, it bustles with casino goers, and is an unlikely choice for an exhibition of 18th-century French antiques -- which is precisely why the show is being held there, says dealer Mikael Kraemer. His ...

The resignation of Singapore Speaker of Parliament Michael Palmer yesterday over an extramarital affair came two days after readers of the island’s largest Chinese newspaper called 2012 a year of lust. Palmer, 44, said he had a relationship with a member of a government agency who wor...

Singapore ’s Speaker of Parliament Michael Palmer has resigned and will leave the ruling People’s Action Party today after admitting to an extramarital affair. Palmer, 44, said he made a “grave mistake” of improper conduct after being involved in a relationship with a member of a gove...

You need to enable Javascript to play media on Bloomberg.com Play Delta CEO Sees Antitrust Immunity for Virgin Deal Delta Air Lines Inc. (DAL) agreed to buy a 49 percent stake in Richard Branson’s Virgin Atlantic Airways Ltd. for $360 million to boost its share of the lucrative trans-...

Singapore topped Hong Kong as the most desired place in Asia for so-called mobile millionaires to reside, with quality of life cited as the main attraction, a RBC Wealth Management (RY) survey showed. Almost a third of the millionaires in Asia who live, work or spend more than half th...

DBS Group Holdings Ltd. (DBS) agreed to buy a 30 percent stake in Singapore’s Marina Bay Financial Centre Tower 3, where the move of its headquarters was completed in October, for S$1.04 billion ($850 million) in cash. DBS, Southeast Asia’s biggest lender, will buy the stake from a jo...

When dozens of Chinese bus drivers held Singapore’s first strike in 26 years last week, the island deported the perpetrators. Getting rid of the soaring prices that are emboldening calls for higher wages won’t be as easy. Rising housing, transportation and business costs have given th...

Cuba’s government is banning reggaeton music from radio and T.V. as Raul Castro’s administration cracks down on “vulgar” songs in the island nation, government newspaper Granma reported on its website , The Cultural Ministry’s music institute will levy severe sanctions or ban musician...

Delta Air Lines Inc. (DAL) , the second- largest U.S. carrier, is in talks to buy part or all of Singapore Airlines Ltd. (SIA) ’s 49 percent stake in Virgin Atlantic and gain more access to London’s Heathrow airport, according to people familiar with the situation. Delta’s European pa...

Singapore Prime Minister Lee Hsien Loong comments on the country’s birth rate, property market, monetary policy and economy. He also spoke on the rising political opposition and his leadership in a Nov. 26 interview in his office in Singapore. On 2013 agenda and challenges: “The immed...

Singapore Prime Minister Lee Hsien Loong said encouraging citizens to have more children is the biggest challenge confronting the island nation if it wishes to remain an economic juggernaut in the developed world. The government hasn’t succeeded in impressing on citizens that “this is...

Singapore home sales may fall as much as 27 percent in 2013 after climbing to a record this year as six rounds of housing curbs by the government crimps demand, according to Jones Lang LaSalle. Private home sales next year may drop to 16,000 units from 22,000 units this year, said Dav...

Singapore Airlines Ltd. (SIA) , the world’s third-largest carrier by market value, fell to a four-month low after profit tumbled on a wider loss at its cargo unit. The carrier dropped as much as 1.7 percent to S$10.40, the lowest price since June 29. It was down 1.3 percent as of 9:38...

At Pine Garden’s Cake Pte., Wei Chan used to have three drivers delivering chocolate and martini- flavored cakes around Singapore . Now, the head of the company transports the goods himself because he can’t get enough workers. A government push to reduce the city-state’s reliance on c...

The worst of the declines in Asia- Pacific economies may be moderating, as Taiwan resumed growth last quarter, South Korean production climbed for the first time in four months and Singapore’s jobless rate fell. Gross domestic product in Taiwan grew 1.02 percent from a year earlier, a...